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Tax Tip of the Week | Gifts to Charity: Six Facts About Written Acknowledgements
If you were to be audited, a written acknowledgement will be needed for all charitable donations,
Section 179 Depreciation Deduction | Tax Tip of the Week | No. 61
If you’re a business owner, you are probably familiar with Section 179 and its benefits. Section 179 allows business owners to fully deduct certain equipment purchases in the year they were purchased rather than depreciating the expense over several years. To qualify, property must be used more than 50% in a trade or business and be acquired from an unrelated party.